Vitamin Shoppe Completes I.P.O.
Vitamin Shoppe has just completed an IPO, raising about $155 million. You can read more about it at DealBook. What I thought was most interesting was the fact that this was first I.P.O. by a traditional retailer since December 2007!
The proceeds from the offering are being used to pay down debt and to pad the pockets of early investors. It does not appear that any of the funds will be held in reserve in order to pay the $48 rents and $0.95 NNN charges at their Southern California locations.
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